Japan and the US jointly intervened in currency markets by buying yen to curb sharp volatility, marking a rare coordinated move. Tokyo said it is prepared for further intervention if needed and plans to use the Federal Reserve's FIMA Repo Facility. The move follows a 2025 bilateral agreement, while Japan also lowered its economic growth forecast amid rising oil prices and yen weakness.
Tokyo: Japan and the United States carried out a rare coordinated yen-buying intervention to curb currency volatility, with Tokyo stating further action will be taken if needed and signalling plans to use the Federal Reserve's FIMA Repo Facility, as per a statement by Japan's Ministry of Finance (MOF Japan) on Monday.
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The Ministry has stated that it could take further action if necessary, further indicating its plans to use the Federal Reserve's Foreign and International Monetary Authorities (FIMA) Repo Facility.
"Japan plans to utilize the Federal Reserve's "Foreign and International Monetary Authorities Repo Facility" (FIMA Repo Facility) in the future," it said.
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